(Reuters) -Elon Musk’s Tesla said on Friday it has cut prices of its Full Self-Driving (FSD) subscriptions in the United States and Canada, as it seeks to drive adoption amid softening demand and price competition. The subscriptions will be priced at $99 per month in the U.S. and C$99 ($71.88) in Canada, the electric vehicle…
By Nupur Anand and Niket Nishant (Reuters) -JPMorgan Chase’s profit beat estimates in the first quarter, but its shares fell 6% after forecasts for interest income fell short of analysts’ expectations on Friday. The largest U.S. lender slightly increased its estimate for net interest income (NII), or the difference between what a bank earns on…
By Krystal Hu and Dawn Chmielewski (Reuters) – OpenAI Chief Executive Sam Altman has hosted hundreds of Fortune 500 company executives in San Francisco, New York and London this month where he and other OpenAI executives pitched AI services for corporate use, going head to head in some cases with financial backer Microsoft, attendees told…
By Manya Saini and Tatiana Bautzer (Reuters) -Citigroup’s first-quarter profit fell 27% as the bank took charges related to its reorganization, although it beat expectations as revenues grew in key divisions. The bank’s shares were volatile, wiping out an earlier gain to slide 2% while other bank stocks also weakened. Citi’s net income fell to…
AMSTERDAM (Reuters) -The Netherlands will provide Ukraine with an additional 1 billion euros ($1.06 billion) in military support this year, and has earmarked 3 billion euros for 2025, caretaker Dutch Prime Minister Mark Rutte said on Friday. The extra support in 2024 takes the total sum for this year to 3 billion euros and will…
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(Reuters) -Morgan Stanley’s wealth management arm is being probed by multiple regulators, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The U.S. Securities and Exchange Commission, the Office of the Comptroller of the Currency (OCC) and other Treasury Department offices are involved, the report said. The bank’s shares fell 4.8%…
With wars actively being waged in several parts of the world right now – and the prospect for additional conflicts looking more and more likely – the global uncertainty stands to have a huge impact on the stock market. In prior decades, the potential for war typically saw an increase in investors looking for larger…
By Ananya Mariam Rajesh (Reuters) -Traders piled into shares of Rent the Runway on Thursday, sending the shares up by more than 220% after the apparel rental firm said it was betting on artificial intelligence tools to power its growth in the current year. More than 34 million shares had changed hands, far surpassing the…
By Yoruk Bahceli and Naomi Rovnick (Reuters) – Traders’ bets on multiple ECB interest rate cuts this year have barely been shaken by hot U.S. inflation that slashed Federal Reserve easing expectations this week, highlighting a growing investor focus on the divergence between the two regions. The European Central Bank cemented that conviction on Thursday,…
